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Are your digital initiatives providing the returns you expected?

If you work in the container shipping industry, the chances are pretty high that your company, or at least one of your business partners or competitors, is undergoing a digital transformation. It was inevitable, right? Countless other industries have gone digital over the past few decades, including payments processing, retail, financial exchanges, travel, hospitality, and real estate. In fact, if you can think of an aspect of your life that has been unaffected by computers and the internet, let me know and we can co-found a new company to digitize it.

A Glimpse into the NYSHEX Default Process

While most people are aware that NYSHEX offers enforceable contracts, they may not be aware of what the process is for having that contract enforced. The dispute process may sound daunting in theory. However, NYSHEX strives to make this process as efficient as possible. Our dispute process is not the large tribunal you may be picturing. At the same time, it is not a completely arbitrary resolution process either.   

A New Era For Container Shipping: What C-Suite Executives Should Expect as Shipping Pricing Models Change

We are on the cusp of a new era in shipping; one in which the basic practices to which we’ve grown accustomed will no longer exist. Competitive advantages will be achieved by the organizations who drive out inefficiencies and can interpret real-time data.

When the [Olive] Branch Gets a Little Close for Comfort, It’s Good to Have a Clear Set of Rules

Rules are often seen as a bad thing. They establish expectations and scope of responsibility and can sometimes feel like a wet blanket. If you challenge yourself however, I bet you can think back to many instances in which you were elated to have a set of rules. Perhaps the movers damaged your great-grandmother’s antique buffet or left you with a busted bed frame. You got the run-around and had to remind them of specific insurance policy verbiage in order to be made whole.

My mind goes back to when a tree limb towering over my condo building punctured my roof while I was traveling. (This stuff only seems to happen to me!) Inevitably a thunderstorm came, soaking the sheet-rock, carpet and all my clothes. The owner of the building with whom I had a great relationship was apologetic but refused to make the interior repairs. Then, there it was! On page 286 of my building bylaws, I found that landscaping was the expressed responsibility of the building owner, and any negligence was on their dime. Once that was demonstrated, the owner agreed to tap into their insurance policy, the repairs were completed, and I lived harmoniously in that home for another three years without incident. It wasn’t emotional; it was business and those were our mutually agreed upon rules. I learned that day that having a set of clear expectations documented takes the emotion out of a potentially confrontational situation and protects relationships.

Why Maersk Spot is Good for Shippers and Carriers, as well as NYSHEX

This week some really exciting news came out in the industry.  Maersk announced that they are launching “Maersk Spot” which will offer shippers guaranteed equipment and space in exchange for a penalty if they don’t show up with promised cargo.